The bitcoin price shows the initial reaction to the Fed’s interest rate decision. Day traders who witness the move are likely to join the fray. sudden influx of capital targeting $22,000 and $22,614. A break above $21,800 will likely be the catalyst that fuels the anticipated move.
The price of Bitcoin at the moment is auctioned at $21,900. Traders must be careful not to get caught on the wrong side of the move. Liquidity hunts and shocks are common occurrences after major news events. A failure to promote additional bullish engulfing candles above $22,100 or a pullback to $21,290 could be early evidence of a smart money trap.
BTC/USD 5 minute chart
In the video below, our analysts take a deep dive into Bitcoin’s price action, looking at the key levels of inertia in the market – FXStreet Team
Source: Fx Street
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